The recession under way in the European Union and the threat of deflation have spawned increasing frequent calls for modification of the Stability and Growth Pact. The present article confirms the negative correlation of the rate of real output growth with that of increase in current public...

The purpose of this paper is to put the future of the US dollar into a logical framework which comprises the global development mechanism. Two models of growth collide: the US 'locomotive,' based on the international use of the dollar, and which requires exogenous pushes coming permanently from...

Climate change, security and cost of energy supplies, and the competitiveness of firms and economies have been focal points of the general political and economic policy debate in recent years. This article examines the choices in this field made at global level with the Kyoto Protocol and in...

By using a simple (short-cut) method, the private and social rates of return of tertiary and secondary education in Italy between 1989 and 1998 are estimated, as well as the private rates of return for some OECD countries in 1998. The results show that private rates of return, especially for...

Climate change, security and cost of energy supplies, and the competitiveness of firms and economies have been focal points of the general political and economic policy debate in recent years. This article examines the choices in this field made at global level with the Kyoto Protocol and in...

According to Senior Scholar Jan Kregel and Paolo Savona, attempting to maintain the status quo in the face of the introduction of some recent technological innovations-chiefly cryptocurrencies and associated instruments based on distributed ledger technology, the deployment of artificial...

The article is part of the special issue of the journal on Charles P. Kindleberger (CPK). The article first summarizes CPK's professional biography and his historical method. Then particular attention is devoted to the study of international relations and the international financial and economic...

This paper examines interactions between monetary policy and financial stability. There is a general view that Central Banks smooth interest rate changes to enhance the stability of financial markets. But might this induce a moral hazard problem, and induce financial institutions to maintain...

The massive use of derivatives and securitisation by sovereign States for public debt and deficit management is a growing phenomenon in financial markets. Financial innovation can modify risks effectively run and alter the stability of the public sector finance. The experience of some developed...

Italian Abstract: La mancata crescita della produttività è un tema centrale per economisti e governi. Le politiche pubbliche di stimolo della produttività hanno registrato modesti risultati, e il maggiore incremento della produttività si è avuto dove queste politiche sono state di minore...